The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-21
CONDITION OF THE MARKETS
Another Dull Day in Wheat, with Small
Fluctuations and O Firm Closing.
Corn Opens Weak, but Develops Considerable
Firmness and an Advance Is Established
Oats Higher-Provisions Higher.
MONEY, BONDS AND STOCKS.

MONEY, BONDS AND STOCKS.
An Active Market in New York. but the Feel
Ing Was Feverfsh and Unsettled.
NEW YORK, Sept 20.--Money on call was
active. ranging from 4S7 per cent, the last
loan being made at s; closing offered at per
cent
Prime mercantile paper, 70s per cent.
Sterling exchange was quiet and barely
pteady at "a. s0a4 800 for sixty days and a. SAL
s4s for demand.
the total salea OK stocks to-day were 510,324
shares. including the following: Canada
FnuEhern, 6,3-5; Delaware, Lackawanna &
Western, $4,000; Delaware g. Hudson, 354O
Erie, q, ITO; KANSAS & Texas 5, 155; Lake Shore.
IL. $50; Louis Vile 81 Nashville. IL, 265; Missouri
Pacific, 10,067; Northwestern, 14.6l0; New
Jersey Central, $780, New York Central, 1866
Northern Pacific preferred. 7.40o; Oregon
Transcontinental. 1926; Pacific Mail, $780,
Peoria, Decatur 81 Evansville. 1926 Reading,
gO4, $50; ST. Paul, 37,770; st. Paul s. Omaha.
1.175; Texas Pacific, 1925; Union Pacific,
B6, $780, Western Union. 41.44
The stock market today was more active than
For many weeks. but it's tone was feverish and
Irregular, but generally weak in the forenoon
and strong later in the day. Phe liquidation
which made some progress yesterday was con-
tinued today. and the pressure Of "iong" stock
during the morning hours was very heavy; over
snc-ffth Of the total days transactions were
mate in the first half hour and over three-ffths
from 10 to IL o'clock The distrust of the none
Harry situation was much intensified while the
bernper OF the room bearish. and as there
WAS authentic news from the Treasury, upon
which all eyes we're turned, the selling began in
sarnest There was some buying foz foreign
account,--a6d commission houses had a few
orders from investors, but the aggregate oil
These was so insignificant that they made no I'M
preston upon prices Everything went, and the
dscIins established differed only in degree while
IN some instances lower prices than had been at
sainod at any previous time tnis year were re-
iordad After noon, however, the pressure was
Bomewhat relieved. and report thai powerful
interests were buying created arevusion in feel
ing while the room traders quickly got over to
= the ''bull" side and became active in bidding up
prices. The impression that the Treasury will
take some action toward relieving the money
market also had much to do with the more set
tied aspect Of the market during the afternoon,
as, should liberal policy be
announced, the banks would loan
money more freely, and it, as is generally
oysrsold healthier condition of prices would
result. The improvement In the afternoon was
nearly equal in extent to the depression OF the
forenoon, and IN many cases net gains for the
day made The opening was very active
and decidedly weak, though prices at the open
ing were irregular. The decline very sharp,
ranging up to q per cent were made. An
equally sharp rally followed after which little
progress was made in either direction until the
next hour, when the same sharp break ensued,
while the recovery was not SO vigor-
ous. more settled then became
apparent, and though prices declined further
the market became more quiet and soon began
to riss after which more decided strength was
shown than at any previous time during the
day. The upward movement met with no seri-
Gus set back, and closed only with the close of
tho board. Good progress was made in the act
i've stocks in the last hour, and the market
closed fairly active and firm. Closing prices
show irregular changes a. compared with yes
terdays final figures, but declines are in a large
majority, the only important advances being II
In Northern Pacific preferred. while Colorado
Coal lost 81; Manhattan and Michigan Central,
2 and Canada Southern and New England, l.
Railroad bonds were dull and weak; sales,
$500, 600. Chesapeake & Ohio. series B, coupon
off lost 81 at &C; East Tennessee fives, "a, at
BIZ; Houston 81 Texas general SKIES, s. at GO;
Mexican Central fours, 2, at Sc: Oregon & Trans
eonfinental sizes, %, at 92a San Francisco,
elass A, -, at ITO; class B. 4, at 100; Texas Pa
cifc RIO Trust receipts. 81 at So; Richmond 81
West Point Trust SKIES, q. at rs; Toledo, Ann
Arbor = North Michigan frsts, 2, at 80: Wa
BASH Chicago division fves. A, at 80; Green Bay
Incomes, 3, at 30, and st. Louis, Arkansas q
Texas seconds, %, at 30.
Government bonds were dull but firm.
State bonds were dull and steady. Closing
wrmp